Stay updated with the latest income tax notifications for changes in tax laws, rates, and compliance requirements. Get insights into income tax updates, exemptions, deductions, and important deadlines through income tax notifications.
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be de...
Income Tax : The new Act reorganises sections, rules, and forms without changing core transfer pricing principles. Taxpayers must adapt to upda...
Income Tax : The new framework eliminates mandatory renewals and replaces them with continuous monitoring. Donor eligibility now depends on sus...
Income Tax : The new law replaces time-bound approvals with continuous compliance monitoring for charitable entities. Registration now survives...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : A CBI court sentenced seven individuals to four years imprisonment for manipulating tax systems using forged records. The case hig...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : The case involved denial of deduction due to delayed execution of purchase deed. The Tribunal held that investment in an under-con...
Income Tax : Gujarat High Court upheld the deletion of a Section 271D penalty, ruling that the assessment order did not record satisfaction for...
Income Tax : Supreme Court reviews the Kakadia Builders case, addressing Settlement Commission's authority to waive interest under Sections 234...
Income Tax : We request the authority concerned to take a practical view of the problems which the assessees are facing as on date on account o...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Gross direct tax collection during April-October of the current fiscal was up by 20.28 percent at Rs.284,081 crore as against Rs.236,176 crore in the same period last fiscal. While gross collection of corporate taxes was up 20.35 percent (Rs. 189,872 crore against Rs. 157,767 crore last year), gross collection of personal income tax was up by 20.17 percent (Rs.93,769 crore against Rs.78,029 crore last year). Net direct tax collections stood at Rs.2 18,850 crore, up from Rs.204,347 crore in the same period last fiscal, registering a growth of 7.10 percent.
Notification No. 59/2011 – Income Tax It is hereby notified for general information that the organization Institute of Seismological Research (ISR), Gandhinagar has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), From assessment year 2010-11 and onwards in the category of Scientific Research Association, engaged in research activities subject to the following conditions namely :—
Notification No. 58/2011 – Income Tax [F.No. 133/48/2011-SO(TPL)]/S.O.2468(E), dated 29-10-2011 – S.O.2468(E).- In the notification of Government of India, Ministry of Finance, Department of Revenue, (Central Board of Direct Taxes), number 56/2011 dated 17th October, 2011 bearing S.O.2394 (E) and published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated 17th October, 2011, namely:-
ORDER NO. 176 OF 2011 -The following postings and transfers of officers in the grade of Commissioners/Director of Income Tax are hereby ordered with immediate effect and until further orders:
ORDER NO. 175 OF 2011 – The President is pleased to appoint the following officers of Indian Revenue Service (Income Tax) to the grade of Joint Commissioner of Income Tax (OSD) purely on Ad hoe basis in the PB 3-Rs. 15,600-39, 100+7, 600/- with immediate effect and until further orders.
ORDER NO, 174 OF 2011 The following transfers/postings in the grade of Chief Commissioner of Income Tax are hereby ordered with immediate effect and until further orders:
Notification No. 57/2011 – Income Tax Rules, 1962 were amended, vide notification No. S.O. 2429(E) dated 24th of October, 2011, for (i) extending the time limit of submission of TDS statements by the Government deductors in view of filing of Form No.24G by them; (ii) compulsory uploading of particulars of amount paid without deduction of tax in view of furnishing of declaration under section 197A; and (iii) enlarging the scope for grant of TDS credit to person other than the deductee.
Notification No. 770/2011 – Income Tax In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Senior Citizens Savings Scheme Rules, 2004, namely
Notification No. 56/2011 – Income Tax Income Tax Department has released a New PAN application Form No. 49AA for Individuals not being a citizen of India, LLP registered outside India, Company registered outside India, Firm formed or registered outside India, Association of persons(Trusts) formed outside India, Association of persons (other than Trusts) or body of individuals or local authority or artificial juridical person formed or any other entity (by whatever name called) registered outside India. Download the new Form 49AA and instruction to File Form No. 49AA and Form no. 49AA.
The Board has received references expressing difficulties in implementation of provisions of Section 194A of the Act in a situation where in the course of the proceedings before Supreme Court/High Court/ any other court or tribunal , one or more than one litigant (hereinafter ‘the depositor’) is directed by the court that a specified amount be deposited in the bank either directly or through the court in order to protect the interest of litigants.
